Disallowance of expenditure by invoking provisions of section 154 unjustified

Dhabriya Polywood Limited Vs DCIT (ITAT Jaipur) ITAT Jaipur held that disallowance of expenditure by invoking rectification provisions of section 154 of the Income Tax Act is unjustifiable as the same is not mistake apparent on record. Facts- The assessee is a company engaged in the business of manufacturing of extruded PVC profile section etc. AO completed the assessment u/s 143(3) of the Act at a total income of Rs. 4,67,04,130/- by disallowing expenses of Rs. 1,73,849/-. Disallowance being insignificant, no appeal was filed by the assessee against the order of the AO. Thereafter, AO invoked...